GM to invest half a billion in Texas SUV plant
General Motors Co. (GM) said Thursday it plans to invest more than $500 million in its Arlington, Texas assembly plant to make future internal combustion-engine, full-size SUVs. Product details and timing were not released. The "significant" investment will strengthen GM's lead in SUVs and "also highlights the company's commitment to continue providing customers with a strong portfolio of ICE vehicles for years to come," GM said. Shares of GM dropped 0.8% in late trading Thursday, underperforming vs. the S&P 500 index for the day. GM stock has gained nearly 7% so far this year, compared with an advance of around 12% for the index.
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June 08, 2023 14:13 ET (18:13 GMT)
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